L&G Emerging Markets Government Bond (Local Currency) Index Fund
ICAV (UCITS compliant)
L&G Emerging Markets Government Bond (Local Currency) Index Fund
I-Class EUR (Unhedged) Accumulation
ISINIE00BD6FXD30
Price
ISINIE00BD6FXD30
Price
Fund aim
The Fund aims to track the performance of the Emerging Markets government bond market as represented by the JPMorgan GBI-EM Global Diversified Local Currency Index (the "Index").
Fund snapshot
- What does it invest in? Invests primarily in bonds that make up the index, issued by governments of developing countries, denominated in their local currency. These bonds will be a mixture of sub-investment grade (higher risk), investment grade (lower risk) and non-rated bonds. The Fund may also use derivatives.
- How does it invest? Passively managed, aiming to replicate the performance of the index.
Fund facts
| Fund size | $1,486.6m |
| Base currency | USD |
| Fund launch date | 24 Mar 2017 |
| Domicile | Ireland |
| Share class launch | 11 Jun 2018 |
| Modified duration | 4.98 years |
| Gross redemption yield (unhedged) | 6.05% |
As at 31 Jan 2024
Benchmark
JPMorgan GBI-EM Global Diversified Local Currency Index
Costs
| Initial charge | 0.00% |
| Ongoing charges figure | 0.32% |
| Dilution levy | 0.174% - round trip |
| Entry anti-dilution levy | 0.09% |
| Exit anti-dilution levy | 0.09% |
Performance
Performance for the I EUR (Unhedged) Acc unit class in EUR, launched on 11 June 2018. Source: Lipper. Performance assumes all fund charges have been taken and that all income generated by the investments, after deduction of tax, remains in the fund.
Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past. The tables and charts above shows the fund's performance as the percentage loss or gain per year over the last 10 years.
Share class launch date:11 Jun 2018
Benchmark:JPM GBI-EM Glb Diversified (LC) Index EUR TR
Year
Share class launch date:11 Jun 2018
Benchmark:JPM GBI-EM Glb Diversified (LC) Index EUR TR
Share class launch date:11 Jun 2018
Benchmark:JPM GBI-EM Glb Diversified (LC) Index EUR TR
Performance scenarios
The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back.
What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted.
The unfavourable, moderate, and favourable scenarios shown are illustrations using the worst, average, and best performance of the product with input from the over the last 10 years. Markets could develop very differently in the future.
Example investment:10,000 EUR
As at:31 Dec 2023
| Scenarios | 1 year | (Recommended holding period) 5 years | |
|---|---|---|---|
| Minimum | There is no minimum guaranteed return. You could lose some or all of your investment. | ||
| Stress scenario | What you might get back after costs | 6,090EUR | 4,870EUR |
| Average return each year (%) | -39.06 | -13.41 | |
| Unfavourable scenario | What you might get back after costs | 8,610EUR | 4,870EUR |
| Average return each year (%) | -13.87 | -13.41 | |
| Moderate scenario | What you might get back after costs | 10,040EUR | 9,960EUR |
| Average return each year (%) | 0.39 | -0.09 | |
| Favourable scenario | What you might get back after costs | 11,850EUR | 12,310EUR |
| Average return each year (%) | 18.54 | 4.25 | |
Minimum
There is no minimum guaranteed return. You could lose some or all of your investment.
Stress scenario
What you might get back after costs6,090EUR4,870EUR
Average return each year (%)-39.06EUR-13.41EUR
Unfavourable scenario
What you might get back after costs8,610EUR4,870EUR
Average return each year (%)-13.87EUR-13.41EUR
Moderate scenario
What you might get back after costs10,040EUR9,960EUR
Average return each year (%)0.39EUR-0.09EUR
Favourable scenario
What you might get back after costs11,850EUR12,310EUR
Average return each year (%)18.54EUR4.25EUR
Portfolio breakdown
As at 31 Jan 2024
| Top 10 holdings | 12.8% |
|---|---|
| Rest of portfolio | 87.2% |
| No. of issuers in fund | 29 |
|---|---|
| No. of issuers in index | 19 |
Top 10 holdings (%)
| Brazil Letras do Tes 0% 01 Jan 26 | 1.7 |
| Brazil Letras do Tes 0% 01 Jul 26 | 1.5 |
| Brazil Notas Do Tes F 10% 01 Jan 29 | 1.4 |
| Brazil Notas do Tes F 10% 01 Jan 27 | 1.4 |
| South Africa Govt Bd 10.5% 21 Dec 26 | 1.3 |
| Mexican Bonos 5.75% 05 Mar 26 | 1.2 |
| South Africa Govt Bd 8% 31 Jan 30 | 1.1 |
| Mexican Bonos 7.5% 03 Jun 27 | 1.1 |
| South Africa Govt Bd 8.75% 28 Feb 48 | 1.1 |
| Mexican Bonos 7.75% 29 May 31 | 1.0 |
Country (%)
China | 10.1 |
Malaysia | 10.0 |
Brazil | 9.6 |
Thailand | 9.6 |
Mexico | 9.5 |
Indonesia | 9.5 |
South Africa | 8.5 |
Poland | 7.6 |
Czech Republic | 6.3 |
Other | 19.5 |
| Top 10 holdings | 12.8% |
|---|---|
| Rest of portfolio | 87.2% |
| No. of issuers in fund | 29 |
|---|---|
| No. of issuers in index | 19 |
Top 10 holdings (%)
| Brazil Letras do Tes 0% 01 Jan 26 | 1.7 |
| Brazil Letras do Tes 0% 01 Jul 26 | 1.5 |
| Brazil Notas Do Tes F 10% 01 Jan 29 | 1.4 |
| Brazil Notas do Tes F 10% 01 Jan 27 | 1.4 |
| South Africa Govt Bd 10.5% 21 Dec 26 | 1.3 |
| Mexican Bonos 5.75% 05 Mar 26 | 1.2 |
| South Africa Govt Bd 8% 31 Jan 30 | 1.1 |
| Mexican Bonos 7.5% 03 Jun 27 | 1.1 |
| South Africa Govt Bd 8.75% 28 Feb 48 | 1.1 |
| Mexican Bonos 7.75% 29 May 31 | 1.0 |
Country (%)
China | 10.1 |
Malaysia | 10.0 |
Brazil | 9.6 |
Thailand | 9.6 |
Mexico | 9.5 |
Indonesia | 9.5 |
South Africa | 8.5 |
Poland | 7.6 |
Czech Republic | 6.3 |
Other | 19.5 |
Years to maturity (%)
0 - 5 Years | 48.9 |
5 - 10 Years | 29.6 |
10 - 15 Years | 11.5 |
15 - 20 Years | 5.4 |
20 - 25 Years | 2.3 |
25 - 30 Years | 2.4 |
Credit rating (%)
| AAA | 1.9 | |
| AA | 6.5 | |
| A+ | 0.5 | |
| A | 28 | |
| A- | 0.9 | |
| BBB+ | 0.6 | |
| BBB | 42.2 | |
| BBB- | 0.1 | |
| BB | 16.5 | |
| Other | 2.9 |
Currency (%)
CNY | 10.1 |
BRL | 10.0 |
MYR | 10.0 |
MXN | 9.9 |
IDR | 9.9 |
THB | 9.6 |
ZAR | 8.5 |
PLN | 7.8 |
CZK | 6.3 |
Other | 18.1 |
All data source LGIM unless otherwise stated. Totals may not sum due to rounding. In order to minimise transaction costs, the Fund will not always own all the assets that constitute the index and on occasion it will own assets that are not in the index.
Fund managers
LGIM Index Fund Management Team
The Index Fund Management team comprises 25 fund managers, supported by two analysts. Management oversight is provided by the Global Head of Index Funds. The team has average industry experience of 15 years, of which seven years has been at LGIM, and is focused on achieving the equally important objectives of close tracking and maximising returns.
Literature
Document type
Prices
Pricing information
| Price basis | Single - dilution levy |
| Price time | 22:30 Irish time |
| Currency | EUR |
Codes and dealing
Codes
| ISIN | IE00BD6FXD30 |
| SEDOL | BD6FXD3 |
| Bloomberg | LGEGLIE ID |
| MEX | - |
| Benchmark Bloomberg | JGENVUEG |
Dealing information
| Valuation frequency | Daily, 22:30 Irish time |
| Dealing frequency | Each Irish and UK Business Day |
| Settlement period | T+2 |
| Administrator/Custodian | Northern Trust |
Country registration
This share class is registered for sale in the following countries:
Denmark
Finland
France
Germany
Ireland
Italy
Netherlands
Norway
Spain
Sweden
Switzerland
United Kingdom
